Providing a robust solution for multiple companies whilst ensuring regulatory compliance: the C2 Group #DigitalTransformation journey
Introduction
C2 Group is an investment holding company providing business process and software solutions to a wide range of companies in the motor and allied industries sector. Their varied portfolio facilitates seamless vendor management and purchase financing for this industry, ultimately ensuring a good customer experience to drive business growth.
The challenge
This client currently has a wide range of custom software solutions based on their individual client business requirements. A new accounting standard IFRS 16 became effective 1st January 2019, requiring new accounting processes to be incorporated into each of their existing solutions. Additional priorities included addressing various aspects of lease management, such as: unifying document and data storage, finance processing and reporting. Seamless integration of the regulatory update was critical, as the C2 Group planed on taking this optimised product to market.
The solution
Having investigated other systems, C2 Group were unable to find a vendor that matched their requirements in terms of localised regulation adoption, solution scalability, efficient costing and consultancy capabilities. The infoFINIUM solution coupled with TechFINIUM’s team development capabilities ideally matched their needs. The product agility and collaborative nature of consultancy services delivered this solution within a short timeframe of only 6 months.
The future is looking bright
Going forward C2 Group would like to expand their subscription numbers as they roll out their specialist compliant solution to other partner companies. Future collaboration plans include enhancing functionalities in both the processing (currency conversions, report generation) and administrative (CSV imports, audit trails) areas.
Key benefits to C2 Group:
C2 Group now has a specialist compliant solution, which they are able to bring to market and increase their customer base.
The solution benefits include:
- Configurable software solution to match individual client business requirements
- Enhanced database administration control on user access levels
- Seamless collaboration with external (government/banking) databases for vehicle and finance searches
- Centralised database of all key documentation
- Improved data accuracy as human error element is removed from the calculation functionalities
- Time savings: faster time-to-process leases, offering better customer service
- Cost savings: quick accurate decision making based on accurate real time data
- Consolidated data leads to improved search capabilities and data retrieval
- Compliance with International Financial Reporting Standards
- Master data oversight by Group Holding companies
Want to find out more? Request your MASA brochure today in the UK on 44 (0)1494 546 089 or South Africa on 27 83 565 0429, email info@techfinium.com or visit www.techfinium.com
Who are we?
TechFINIUM is a leading trusted software and solutions provider. Our aim is to enable businesses to efficiently manage business critical processes, corporate governance and compliance – globally.
We are proud of our team of highly experienced & well-connected professionals, who have been successfully delivering business solutions across diverse technologies and in multiple industry sectors.
Along with this, we are able to call on our extensive network of consultants, partners and associates to augment our delivery capacity. TechFINIUM currently has operations in the UK, South Africa and India.
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